Once again I tried to make it through the Democrat whine fest last night, but I came up short. The decision was "go to bed and fall into a good sleep, OR, listen to devout Socialists who want open borders, no deportations, and free healthcare for illegal immigrants.

In tonight's FIR, we simply chat about how things are on hold, waiting for the outcome of the Trump/Xi meeting this week at the G20. What happens if there's a deal? What happens if there's no deal? And what about Iran? The rhetoric there is getting pretty thick.

A shorter letter than normal, simply because that's all there is to talk about market wise. This weekend will decide the market's next move.

This will be one of the shortest Financial Intelligence Reports of the year. Why? We’re in a holding pattern.

Just 4 sessions ago, we had set new all-time highs. But since then things have faded a bit, as market participants wait to see what’s going to happen with 1) Iran and the back and forth there, and 2) the weekend chat between Trump and China’s Xi.

Good morning all, how was your weekend? I trust it was a good one for you all. Down here in way too hot Florida, our weekend went a bit askew. My wife is battling a sinus infection, and was in no way up for a bike ride. Not to mention we broke records for heat, as it was a blazing 97 degrees.

Good morning all, welcome back from one of those rare 3 day weekends. I really hope it was a meaningful one for you all. As I said I detest war, it's always pushed by elitist lunatics, and it's the "normal fellow' that ends up shedding his blood in them. That said, it's a day where you must tip your hat and say a prayer for all the brave that gave it all. I especially pay respects to the families that have to go on living without their loved one (s). They surely suffer.

The news wires this morning are flooded with opinion about Trumps 9 minute long speech last night. Isn't it funny how not long ago Chuck Schumer voted for the money to erect over 600 miles of border fence, but now Him and Pelosi consider a fence "immoral?" It's' not funny, it's sad.

Back on Tuesday, when those enormous sell programs hit, it certainly raised a lot of eyebrows. It got my attention, because while I understand where the selling came from, I still didn't understand the why they did it. Why did they decide on a random Tuesday that risk was now toxic and they needed to cut their exposure by 40% or more?